Lots of people want to buy in to MLBAM, but the owners aren’t selling

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Major League Baseball Advanced Media — the baseball subsidiary behind MLB.com. MLB.tv and a lot of stuff about which you have no idea — is a gold mine.  It, more than anything, has been responsible for the sharp increase in baseball revenues in recent years. And as an added bonus, the company just gets stuff right.  I can watch a Mariners-A’s game on a Tuesday night in Ohio if I want to, and I can do so relatively cheaply. And it works. As does most of the stuff they do. Viva MLBAM.

But when you get a money-making enterprise that folks like, other folks will want to invest in it. And as Business Insider reported the other day, lots of private equity groups want to invest in MLBAM.  But baseball is rejecting these overtures, preferring to forgo the instant liquidity in favor of keeping it the league and the owners’ very own private thing.  BI has some possible explanations for this:

A source close to the talks tells us the company gets “call a day” from private equity firms, but that the company isn’t looking to sell a stake for a few reasons:

  • It’s already loaded with cash.
  • Owners are already getting a huge dividend.
  • Selling a billion dollar stake in MLBAM any time soon would make it very hard for owners to argue that they’re broke in upcoming labor negotiations with players.
  • Selling a stake could further complicate the ownership stake and perhaps even force a dreaded shotgun IPO.

Those are all very plausible reasons. I’ll add another one:  The books of major league baseball owners are a thicket of self-dealing and chaos, and there’s no way in hell they want to open them up to anyone they don’t have to lest people see just how ugly they really are.  If you doubt this, just recall the fun stuff we saw when Frank McCourt and Tom Hicks were forced to open their books in litigation. Or when Deadspin reported on a bunch of leaked financials from the Pirates, Marlins and other teams.

It’s less the case than it used to be, but in a lot of ways baseball teams are multi-million dollar businesses being run like a small town auto dealership.  They make money to beat the band, but they’re not about to share that with the Wall Street crowd.

21-year-old Gleyber Torres homers twice off of 44-year-old Bartolo Colon

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Yankees second baseman Gleyber Torres was born on December 13, 1996. That year, Bartolo Colon (who turns 45 years old on Thursday) was wrapping up a season he spent with Double-A Canton-Akron and Triple-A Buffalo. He would debut in the majors the following April.

In a clash of generations, the 21-year-old Torres and Colon squared off on Monday as the Yankees visited the Rangers. Torres won the battle twice, drilling a two-run home run off of Colon in the second inning and a solo shot off of Colon in the fourth. Colon wound up giving up six runs in total on eight hits (including four homers) and a walk with four strikeouts in 5 1/3 innings.

Here is video of the first homer Torres hit:

Torres is the second-youngest Yankee in club history with a multi-homer game. Mickey Mantle was 20 years and 296 days old when he went yard twice on August 11, 1952. Torres is 21 years, 159 days old. Joe DiMaggio was 21-212 when he hit two on June 24, 1936.

So much for respecting one’s elders. We’re currently seeing a youth movement in baseball. 19-year-old Juan Soto hit his first major league homer on Monday against the Padres. 20-year-olds Ronald Acuña and Mike Soroka debuted for the Braves earlier this year. Could 19-year-old Blue Jays prospect Vladimir Guerrero, Jr. join them soon?